JPMorgan Chase & Co. Reaffirms "Neutral" Rating for Allogene Therapeutics (NASDAQ:ALLO)

Key Points

• JPMorgan Chase & Co. has reiterated a "neutral" rating for Allogene Therapeutics following a series of recent stock analyses by various brokerages, indicating a generally cautious outlook.
• Allogene Therapeutics' stock is currently trading at $1.08, having experienced a decline of 12.2%, with a 12-month range between $0.86 and $3.78.
• The company reported earnings of ($0.28) per share, aligning with analysts' expectations, and is projected to report an EPS of (1.28) for the current year.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued on Monday,Benzinga reports.

A number of other brokerages have also weighed in on ALLO. Citizens Jmp lowered Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Wednesday, May 14th. Piper Sandler dropped their price target on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Robert W. Baird lowered their price objective on Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Oppenheimer decreased their price target on Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Finally, Citigroup lowered their price target on Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.44.

Allogene Therapeutics Stock Down 1.0%

Shares of ALLO traded down $0.01 on Monday, hitting $1.04. The company's stock had a trading volume of 3,658,690 shares, compared to its average volume of 4,398,074. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $3.78. The firm's fifty day moving average price is $1.28 and its 200-day moving average price is $1.49. The firm has a market capitalization of $227.48 million, a price-to-earnings ratio of -0.85 and a beta of 0.35.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). As a group, equities analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in shares of Allogene Therapeutics by 6.0% during the fourth quarter. California State Teachers Retirement System now owns 135,554 shares of the company's stock worth $289,000 after buying an additional 7,685 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Allogene Therapeutics by 13.5% in the first quarter. Exchange Traded Concepts LLC now owns 68,858 shares of the company's stock valued at $101,000 after purchasing an additional 8,183 shares in the last quarter. Invesco Ltd. lifted its position in Allogene Therapeutics by 7.0% during the fourth quarter. Invesco Ltd. now owns 127,486 shares of the company's stock worth $272,000 after buying an additional 8,359 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Allogene Therapeutics by 25.6% in the 4th quarter. ProShare Advisors LLC now owns 46,082 shares of the company's stock worth $98,000 after acquiring an additional 9,388 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Allogene Therapeutics by 4.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,065 shares of the company's stock worth $386,000 after acquiring an additional 10,489 shares during the period. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).